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March 2015 Archives

Estate administration may be too much for some family members

An estate plan is designed to take care of the family members left behind after a Massachusetts resident passes away. Ordinarily, the documents are set up to make estate administration easier and less time-consuming for his or her loved ones. However, dealing with the particulars of how everything will happen is too much for some loved ones. In that case, it will not matter how well an estate plan is crafted.

Long-term health care planning options for Massachusetts elders

Medical advancements are allowing people to live longer. This means that as many as 70 percent of people over the age of 65 will need medical care for a longer period of time than in the past. Long-term health care planning could help pay for that care. Whether a Massachusetts resident is looking to save for themselves, a spouse or elderly parents, he or she has several options from which to choose.

Dividing assets among children can be problematic

Most Massachusetts parents want to ensure that their children are cared for after they are gone. The question is how to divide their assets among the children in a way that will give each of them the most benefit. Every child is different, and simply dividing the assets up equally may not be the best solution.

A special needs trust could be crucial for Massachusetts parents

Massachusetts parents who have a child with special needs often dedicate their lives to providing the best care possible to him or her. Some of these parents may also be preoccupied with ensuring that their child will continue to receive the same level of care if and when they are not around to do it themselves. This is where a special needs trust can be crucial.

Young adults in Massachusetts need wills, too

Most young adults in Massachusetts believe they have their whole lives ahead of them and have plenty of time to take care of estate planning at some point in the future. Moreover, they may not believe that they have anything of value. However, if they have personal belongings, a car and maybe a checking account, they have assets. Wills keep family members from having to obtain court permission to distribute those assets.

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